Additional Fundings on Lawsuits by Ralph Underwriter
CMG Underwriting, Medical Malpractice Comments (4)
Hey all! It’s underwriter Ralph again. I’m working on a case now where we are considering a second advance on the same medical malpractice lawsuit. Not only are additional fundings possible, they happen daily! This client in particular was self-admitted to the ER within an hour of heart attack symptoms and then released without timely cardiac treatment. Unfortunately, this patient had suffered a heart attack and due to the delay in diagnosis, was forced to undergo implantation of permanent pacemaker and ICD (Implanted Cardiac Defibrillators) devices. This oversight of symptoms has left this patient without a source for income while they await their trial. The client originally requested a funding of $80,000 on their medical malpractice lawsuit. After our review of the case it was determined we could immediately fund the client $25,000. But that wasn’t the end of our relationship with this client! Several months later the same plaintiff contacted CMG and requested an additional funding of $15,000. After reviewing the progress of the case and speaking with the client’s attorney, we quickly sent this plaintiff an additional $15,000. This client can continue to request additional fundings for consideration.
The benefits of additional fundings are simple. Additional fundings are typically very quick to underwrite and represent a win-win for the plaintiff and CMG. These fundings allow the plaintiff to reduce the time between funding and settlement, hence reduce the final total lien amount on their case. This is a very conservative practice in our business, but another way we look out for our client’s best interest.
-Ralph
If you are in a similar situation or know someone who has been involved in a medical malpractice case, ask them to call us at 1.800.264.2274 or apply online for a free funding review. This blog represents an actual CMG call. The personal, employment and medical details of this client interaction have been omitted or altered to protect the plaintiff’s anonymity.
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admin @ January 27, 2010
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Genial brief and this mail helped me a lot. Thank you for your information.
Hey Ralph your additional funding’s on lawsuits and medical malpractice blog is good. I would surely refer your contact information for any such medical malpractice financial need.
You seem to be a truly a good underwriter.